Moving through the following 7 steps to purchase your first home can be greatly streamlined with the expert help of Urban Mortgage and other professionals by your side.

Step 1: Get Pre-approved

  A pre-approval is a must in the fast paced real estate market in Alberta. A mortgage pre-approval will determine the maximum amount you will be approved for. It will also hold the interest rate for you while you shop, ensuring that you receive the best mortgage rates possible when it comes time to make your offer. Urban Mortgage pre-approvals generally take 2 business hours to complete, and give you the benefit of the best mortgage rates in Canada. You can even apply online.

Step 2: Arrange Your Down Payment

  If you are taking advantage of the Home Buyers Plan, you should make sure that you have notified your financial advisor about your plans to purchase. You will then be required to fill out a T1036 form from Revenue Canada. Your financial advisor or tax office can supply you with this form. Receipt of your funds may take some time so it is important that you request your funds early on in your home buying process. If your down payment is coming in the form of a “Gift,” you will be required to supply proof in the form of a letter that states who is gifting you the money and what it will be used for.

Step 3: Hire an Experienced Realtor

  Having an experienced realtor guide you through this market can make the experience of purchasing your home a lot easier. An experienced realtor will be able to help you find the home of your dreams while negotiating the best price for you. monest Financial partners with some of the top real estate agents in Ontario.

Step 4: Hire a Home Inspector

  Home inspectors are a great resource to ensure that your new home purchase is not only a house you get to live in but also a sound and safe investment. With a report from a home inspector, you will be able to see the full extent of any damages or deficiencies that may not be visible in your new home.

Step 5: Have All Your Documents Ready

  From your mortgage approval to the purchase contract, there are many documents you will need to sign and provide to complete the transaction. Your Urban Mortgage agent will guide you on the exact documents you will need to obtain a mortgage commitment. Below is a list of the most common documents required: Employment Letter Most Recent pay stub Statements indicating where the down payment is coming from. In the case of a 5% down payment mortgage, lenders may require that you provide three months history on the down payment. With a 5% down payment, you will also be required to provide proof that you have 1.5% of the purchase price for closing costs Purchase Contract and all amendments Void cheque Copy of drivers license and another piece of ID

Step 6: Hire a Real Estate Lawyer

  A real estate lawyer can legally advise you on your rights as a buyer while guiding you through the purchase contract and mortgage documents. A good real estate lawyer will also be able to explain to you in simple language the legal jargon found in contracts. Meet with your lawyer prior to your closing or possession date. Generally, your real estate lawyer will want to meet with you one month before your closing date. No matter where you are in Ontario, contact us for a list of lawyers in your area.

Step 7: Move In

  You’ve found the house, you have your mortgage in place, and all conditions have been removed. It’s time to plan your move: If you plan on hiring a mover, now is the time to do so since movers book up very quickly. Give notice to your current landlord. Start the process of contacting your family members and creditors to provide them with your new address. Call your local utility companies to set up an account as well as informing them of your move in date.

  获得房屋贷款对于您来说可能是一个非常重要的决定。请让伟力集团来帮助你在面对这么多的选择的时候做出一个正确的决定。 一个好的决定会对您的理财产生非常积极的影响。 为了更好地为您购置新家做准备，我们建议您在购买之前首先做一个房屋贷款预先批准，这样，您在购置新房的时候就有了一个基本的预算保证。

房屋购买贷款

  当一个付款周期即将结束的时候，加拿大的银行通常会在过期前一到二个月寄去一封续期房屋贷款的信。这时银行往往会利用我们平时日程繁忙的时机，与您签订房屋贷款续期协议。

房屋贷款续期转换

  当一个付款周期即将结束的时候，加拿大的银行通常会在过期前一到二个月寄去一封续期房屋贷款的信。这时银行往往会利用我们平时日程繁忙的时机，与您签订房屋贷款续期协议。

自雇人士贷款

  在加拿大，有超过20%的收入者都是自雇，自己做生意或者完全依赖于佣金人。有这么一大群人都在为自己工作，那么您认为加拿大的银行对于这些人申请贷款的条件会有所包容吗？ 答案是肯定的！大部分自雇人士在申报收入之前都会自己抵销掉一部分收入的开支。

房屋重新贷款

  加拿大人借钱可能会有不同的原因-失业，教育，房屋改造或者大额购买等。您的房子可以作为最宝贵的资产，可以为你的高利息的信用卡债务、个人债务甚至是汽车债务作为担保进行债务重组。

  When a term is coming to a close, most Canadian banks will send a mortgage renewal notice in the mail usually one to two months prior to the term expiration. At this time the banks tend to take advantage of our busy schedules to assume that you will sign on with them for another term.

Renewals and Transfers

  The worst part is that the banks only tend to offer you their posted rate with very little or no discount. Almost 60 percent of the public sign this renewal without researching what the competition has to offer. We, at monest, are here to offer you the expertise and resources so you can take advantage of the competitive mortgage market. Let us shop your mortgage renewal to find you the best deal. It may be your bank or another lender, and the difference in rates can be significant. We could save you thousands over the term of your mortgage. It costs you nothing but a phone call and we walk you through the process. Don’t take your biggest investment for granted. Be certain you are getting the best deal on your mortgage renewal. In addition to low mortgage rates, we can find you a mortgage product that suits your lifestyle and needs. Need flexibility with payments? Not sure if variable or fixed is better for you? Want to renew for a higher amount? We can answer all your mortgage renewal questions with unbiased, expert advice. Let us ‘Taylor make’ a mortgage renewal to suit your needs and save you money.

  Over 20% of Canadian income earners are self employed, business for self or are 100% commissioned. With this large of a segment of the population working for themselves you would think the mortgage banks in Canada would be a little more accommodating. Well they have! Finally. Most people in business write off expenses before declaring their income. That's the advantage of being in business for yourself. You pay income tax on a lesser amount but when you need to prove income for a mortgage approval, your tax returns make it look like your income is low and you can't afford the mortgage you deserve. Qualifying for a Low Documentation Mortgage is easier than you think. You can purchase a new property or re-finance your existing home up to 90% of its appraised value. The lender bases their mortgage approval on your good credit history instead of your net income. At monest Mortgage we understand your needs. Our lenders look at your credit history rather than business financials and personal tax notice of assessments. This is something most mortgage lenders won't do. With monest and our preferred lenders, you will find a product that is right for you.

The Low Documentation Mortgage

Purchase up to 95% Refinance up to 90% Beacon Score LTV

600 Up to 75%

620 Up to 85%

650 Up to 90%

700 Up to 95% (purchases only)

You will need:

• A clean credit history. (No bankruptcies or foreclosures. Any late payments on credit cards or loans may lower your chances of qualifying.)
• Proof that you have been self-employed for three (3) years. (Incorporation papers or GST number.)
• The property to be located in or near a major centre. (Please call for details.)
• Some restrictions apply. Please fill out our easy-to-use low-doc mortgage application or contact one of our representatives today to qualify!

No Income Mortgage

  With the No Income Mortgage, you can purchase a new property or re-finance your existing home up to 75% of its appraised value. Income and credit do not have tobe perfect. With 25% down or at least 25% equity CanEquity can obtain a mortgage for almost any income or credit situation.

Please remember each application is unique and these are just some examples of the current products available to business-for-self persons. Here are a few things to remember when shopping for a mortgage: A self-employed person with a clean credit history in most cases will receive the lowest rates available. Although an established credit history does improve your interest rate, it is not a requirement for obtaining a mortgage. Please keep in mind that the property must be in or near a major center.

Mortgage Refinancing

Canadians may borrow for different reasons – job loss, education, home renovations, large purchases, etc. The valuable equity that you may already have in your home can be used to consolidate high interest credit card debts, credit lines and even car loans. Pulling equity out of your home at today's great interest rates can save you as much as 17% a month in interest charges! In the past, for a client to consolidate credit card and loan debts, a second mortgage was your only choice. Did you know second mortgage rates can be as high as 19%? Since secured home loans are based on the equity in your home, they are considered low risk by lenders. Therefore, you can use the low interest loans or lines of credit to pay off high interest credit cards and debts. By consolidating debt, you can also free up cash flow. Using one low interest loan to pay off several high interest loans will mean you only make one debt payment a month.

Land Loan

  When the borrowers are planning to purchase a piece of land and the amount of their capital is not enough to cover the price, they would like to borrow from financial institutions or individual investors. The borrower could construct buildings or resell the land when the price of the land goes up. The collateral of land loan is the land going to be purchased or other property have the identical value to protect the investors' interest.

  monest has excellent tradition and abundant resources, which provide more options for our customers. We would customise suggestions based on the financial and credit situations of customers. Customers always satisfy with our trust worthy services.

What the process of Private Lending is like?

  We will investigate the borrower’s purpose of lending, financial background, credit rating history, and asset appraisal report. The lawyers of both borrower and lender would make sure the legality of the contact.

  monest, in this process, is the bridge of both lender and borrower, provide proper suggestions and sufficient resources, make sure the legal and professional services.

How is the security of the investment ensured?

The subject property of borrower is the most important collateral for the principal of the lender. What is more, our team is good at risk management, which controls the risks to the minimum:

• Firstly, we make sure the borrower’s overall LTV does not exceed 80%. This is especially crucial for the borrowers who have already the first mortgage on the property.
• Secondly, we only lend on properties within GTA, so that you can go and see the properties.
• Thirdly, we make sure that every borrower has a good credit rating degree.

Commercial Mortgages

  If you’re looking to purchase or refinance income-producing properties our mortgage company, based in Ontario, specializes in finding solutions to your particular needs. You'll benefit from our company's experience and knowledge.

  monest Mortgage has various resources for commercial lending. Our agents can arrange a commercial mortgage quickly and conveniently. Why not save yourself the time and let us do the work for you? Commercial mortgages are available to clients who are searching for financing to cover costs for purchases of commercial buildings, fuel stations, multi-family units and apartment buildings.

  Commercial lenders have different criteria for each situation. Take advantage of our resources and expertise when it comes to your commercial mortgage. Our agents are always available to discuss your situation and needs for a commercial mortgage.

Construction Loan

  After the borrowers have purchased the land, they need to finance the process of construction and decoration. The constructed property would be resold to make profit and to repay the loan. The land and property would be very important collateral for construction loan, therefore, the appraisal report of the land and property becomes crucial.

  monest has 15 years' history ,sufficient mortgage experience and strict standards and reqirements for the appraisers. We will keep tracking the the construction and neutrally judge the rate of the process. The mortgage funds would be transferred in our fastest speed.

Syndicated Mortgages

  Syndiacated mortgage is a special type of private loan. The biggest difference is there are multiple individual lenders in syndicated mortgage. There are different shares of loans for each lender, so the amount of the mortgage is comparatively small. This type of loan is fit for the investors who do not have enough funds or investors who want to make tentative investments.

  With honesty and resiponsibility, monest has been always scupulously and strictly selecting every investment opportunity. we utilize our comprehensive resources, open doors and set up bridge for investors.